The PCI Security Standards Council has welcomed allpay Limited as a new participating organisation. The company will work with the Council to achieve and improve payment data security worldwide, through the ongoing development of the PCI Security Standards, including the Payment Card Industry Data Security Standard (PCI DSS), PIN Transaction Security (PTS) requirements and the Payment Application Data Security Standard (PA-DSS).
Endorsed by American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa, the PCI Security Standards require merchants and service providers that store, process or transmit customer payment card data to adhere to information security controls and processes that ensure data protection – not just once a year, but as part of an ongoing business-as-usual security posture. To enhance payment data security globally, while embracing new technologies as they are developed, the Council relies on the involvement of those across the payments processing chain, from merchants and service providers to payment device manufacturers and software developers, financial institutions and processors.
As a participating organisation, allpay will receive previews of drafts of standards and supporting materials in order to provide feedback to shape their final versions, as well as engage a growing community of more than 700 organisations united to improve payment security worldwide.
The company will also have the opportunity to recommend new initiatives for consideration to the PCI Security Standards Council, participate in exclusive webinars/question and answer sessions with Council representatives, and review and discuss new versions of the PCI Security Standards while sharing cross-sector experiences and best practices at the annual community meetings.
Individuals and corporates can now make instant euro credit transfers between accounts across a region that will be extended to over 34 European countries.
An Oliver Wyman report notes “unprecedented change” and forecasts annual growth of 7% to the end of the decade helped by new types of payment.
Economies around the world have made further progress in simplifying and reducing the demands of tax compliance, reports The World Bank Group.
The US government's ban on the payments processor, which took effect late September, has forced UK financial organisations to seek alternative processors for their platforms.